Gas prices.

[mac5155]

3.99 in good old Somerset.

Ahh Somerset....also known as the "I'm actually getting close to Pittsburgh exit" when I drive there from Philly

There's nothing but barren wasteland for the 51 miles between breezewood and somerset.

(ib4 c2i bedford)

[Rylan]

3.99 in good old Somerset.

Ahh Somerset....also known as the "I'm actually getting close to Pittsburgh exit" when I drive there from Philly

There's nothing but barren wasteland for the 51 miles between breezewood and somerset.

(ib4 c2i bedford)

Bedford. Almost dated a girl from Bedford.

[Digitalgypsy66]

Paid $2.85 today...Down from 3.07 last Friday.

[Pavel Bure]

The government heard my righteous outrage.

[newarenanow]

Paid $2.85 today...Down from 3.07 last Friday.

Where? It's still $3.37 around me.

[Hockeynut!]

$3.42 here.

[Sam's Drunk Dog]

I paid $3.39 yesterday near my house in Bensalem. It was $3.49 at the Exxon.

[mac5155]

lowest i've seen is $3.29 in Bentleyville.

[mac5155]

Paid $2.85 today...Down from 3.07 last Friday.

Where? It's still $3.37 around me.

DG is from Carolina iirc.

[Digitalgypsy66]

Paid $2.85 today...Down from 3.07 last Friday.

Where? It's still $3.37 around me.

DG is from Carolina iirc.

Yes, that is correct. We have non-existent fuel taxes here.

[legame]

$3.09 this morning.

[Digitalgypsy66]

I know this is an old thread, but it's interesting to track such things over a long period of time.

Demand is low, and supply is high - OPEC isn't going to reduce pumping, as the Saudis try to reassert control within OPEC. Russia, Iran, and the Saudis are hurting because of the 40% drop in oil prices on the wholesale market.

I paid $2.49 here in SC over the weekend, and some economists are saying that it could drop below $2 by Christmas. The Washington Post had an interesting article on how we could see the largest shift in wealth in modern times with these dropping prices:

http://www.washingtonpost.com/business/ ... ingtonpost

[DelPen]

The beautiful thing is shale oil production is still profitable down to $30 a barrell. Add that with the potential Keystone pipeline I doubt we will need to import any oil from outside of North America with will results in sub $2 gasoline for a while I hope.

Just drove up to Alexandria and back yesterday from charlotte, gas asn't even close to $3 anywhere, when I had to fill up in Richmond it was only $2.50.

[Idoit40fans]

I guess we didnt get up to $10/gal

[Troy Loney]

The skeptic in me thinks that OPEC is using their position of strength to punish the high cost producers.

[skullman80]

I'd love to have 2.50$ here, I think when I put gas in the other day it was still 2.9x$ something.

Lowest I've seen is the mid 2.8x$ range in my neck of the woods.

[newarenanow]

Possibly dumb question, but is part of this due to the sanctions on Russia? They rely heavily on oil production.

[DelPen]

Possibly dumb question, but is part of this due to the sanctions on Russia? They rely heavily on oil production.

US has cut imports dramatically due to shale oil domestic production. If there were sanctions on Russia it should help OPEC since it's one less seller and should keep costs higher too from less supply.

[Bioshock]

Here's the skinny of why this is happening:
http://www.vox.com/2014/11/28/7302827/oil-prices-opec

Seems that OPEC and the united states are in the beginning of a price war to see who will blink first. Seen economists that think we'll be paying less than 2 dollars per gallon before the end of the next 6 months

[dodint]

It would be nice if this held up till New Years at least since I have to drive a moving truck about 1500mi, again.

[tifosi77]

The Shell station I frequently use in my neighborhood is at $2.99/gal now. This is notable for two reasons: 1) LOS ANGELES, and 2) the station is only a few dozen yards from a freeway off ramp.

[meow]

There are some internal disagreements between OPEC members on how to handle the current situation. Countries like Nigeria, Ecuador, and Algeria were/are going to be seriously hurt by the price drop because they produce fewer bbls per captia than UAB, Saudi Arabia, and Libya. In the not too distant future, less than 2 years, the US will be exporting oil and OPEC will not have such a strong influence on the global oil price.

[PensFanInDC]

I am still failing to see the downside to any of this. I'm not saying there isn't one but I am having a hard time noticing it from an uneducated standpoint.

[slappybrown]

I thought the US was a net exporter already?

[meow]

Production exceeds consumption within the US currently, but there are limitations on exportation amounts.